LENEXA, Kan. – U.S. Central FCU yesterday confirmed the departure of a second investment officer, in the face of a $1.1 billion loss on its portfolio fo 2008.
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Chief investment officer Connie Loveless join David Dickens, the long-time head of asset liability management, who was fired last week amid pressure over the losses by U.S. Central’s corporate credit union members.
The 2008 losses have necessitated a $1 billion capital infusion into U.S. Central by NCUA, the cornerstone of a $5 billion bailout of the corporate credit union network.
